Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
ABB has signed an agreement to acquire the power electronics business of Gamesa Electric in Spain from Siemens Gamesa. This acquisition strengthens the company’s position in the high-powered renewable power conversion technology market. The transaction is expected to close in the second half of 2025.
Italian stationery maker FILA has initiated the sale of up to 4.57% of shares in its Indian unit, DOMS. The stake sale is being conducted through an accelerated book-building process, starting on December 18, offering up to 27.73 lakh shares. The Italian company holds about a 30.58% stake in DOMS.
The company has opened its qualified institutional placement (QIP) issue on December 18, with a floor price of Rs 550.73 per share. According to CNBC-TV18, quoting sources, the issue size is Rs 450 crore, with an upsize option of up to Rs 750 crore. Meanwhile, the company has entered into an agreement with Narayana Hrudayalaya to provide the Zaggle Save (Employee Expense Management & Benefits) solution to the healthcare firm.
Promoter Usha Madhukar Chandurkar has sold 1.6% stake (or 40 lakh shares) in the company for Rs 601 crore, at an average price of Rs 1,501.52 per share, reports CNBC-TV18. As of September 2024, she held a 3.27% stake in Ipca.
The company will open its qualified institutional placement (QIP) issue on December 19 and has set a floor price of Rs 13.98 per share. It has approved the issuance of 7.19 crore equity shares, aggregating up to Rs 95.66 crore.
The company has secured orders worth Rs 105 crore from the real estate firm Prestige Group. It will supply tiles and marble to several of Prestige’s real estate projects across various cities in the country. Based on Prestige’s ongoing projects, NITCO expects the order size to increase to about Rs 210 crore.
Yatharth Hospital & Trauma Care Services
The company opened its qualified institutional placement (QIP) issue on December 18, with a floor price of Rs 626.18 per share. According to CNBC-TV18, quoting sources, the indicative issue size is Rs 450 crore, with an upsize option of up to Rs 700 crore.
The company has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA) for its manufacturing facility in Taloja. The US FDA has classified the inspection as Voluntary Action Indicated (VAI) and concluded the inspection as closed.
Ajay Patil has resigned as Chief Financial Officer of the company, effective January 9, 2025. The Board has appointed Prasad Kulkarni as the interim Chief Financial Officer of the company, effective January 10, 2025.
Vishu Goel has resigned as Associate Vice President of Retail Sales, Commercials & Marketing, and Shyam Swamy has resigned as Vice President of Home Improvement, Décor, Services & Retailing of the company, effective December 17. However, the Board has approved the appointment of Ashish Rae as Associate Vice President – Retail Sales, Marketing & Commercial, effective January 2, 2025. Additionally, Gagandeep Singh Kalsi, Associate Vice President – Strategy, Business Development, a Senior Management Personnel, will also handle Décor and Services, effective December 23.
The Board has approved the issuance of equity shares worth up to Rs 120 crore via a rights issue and the issuance of up to 7.24 crore warrants worth up to Rs 90.9 crore.
The company has acquired a 2.44% stake in EIH for Rs 111.22 crore and 0.53% shares of HLV for Rs 10.93 crore, from Russell Credit, a wholly owned subsidiary of the company. Post-acquisition, the company’s shareholding in EIH and HLV increased to 16.13% and 8.11%, respectively.
The Central Government has appointed Rama Mohan Rao Amara as Managing Director of the bank for three years. Currently, Rama Mohan Rao Amara is the Deputy Managing Director at the bank.
The pharma company has received approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for Emtricitabine and Tenofovir Alafenamide tablets, 200 mg/25 mg, to market a generic equivalent of Descovy tablets of Gilead Sciences, Inc, in the US markets. Lupin is one of the first ANDA applicants and is eligible for 180 days of shared generic exclusivity. This product will be manufactured at Lupin’s Nagpur facility in India.
The company’s subsidiary, JSW Tuticorin Multipurpose Terminal, is to avail a rupee term loan facility of Rs 500 crore from ICICI Bank and Canara Bank for the development/mechanization of North Cargo Berth-III (NCB-III)-Zone A, for handling dry bulk cargo at V.O. Chidambaranar Port. Additionally, the company, as a sponsor, has provided a debt repayment shortfall undertaking to cover principal and interest throughout the tenor of the loan.
The total volume for November, including surface and air express, stood at 102kt, up 2% compared to 100kt in November 2023 and down 12.8% compared to 117kt in October 2024.
IOL Chemicals & Pharmaceuticals
The Board will meet on December 27 to consider the sub-division/split of existing equity shares having a face value of Rs 10 each.
The Brigade Group has launched Brigade Citrine, India’s first truly net-zero carbon residential development, in Bengaluru. The project has an estimated gross development value of about Rs 500 crore. The total size of the project site is around 4.3 acres.
Capco Consulting Middle East FZE has been incorporated as a step-down subsidiary of Wipro, effective December 17, in Dubai, UAE.
The Board has approved the temporary cooldown of the furnace at GMB Glasmanufaktur Brandenburg GmbH, the company's subsidiary, and the expansion of the company’s production capacity by 500 tonnes per day, with an estimated cost of Rs 675 crore. Further, the Board has approved the withdrawal of the proposed rights issue of equity shares worth up to Rs 450 crore, and the issuance of up to 1,13,20,754 warrants worth Rs 600 crore to the proposed investors on a preferential basis. It also approved the issue of 18.86 lakh shares worth up to Rs 100 crore to the promoter on a preferential basis.
The Board has approved the appointment of Alin Roy Choudhury as Chief Financial Officer of the company, effective January 1, 2025. Currently, Alin Roy Choudhury is the Chief General Manager (Finance) of the company.
The Board has approved the issuance of up to 6.57 lakh equity shares worth Rs 125 crore to Malabar India Fund, Ashoka India Equity Investment Trust PLC, and WhiteOak Capital ELSS Tax Saver Mutual Fund.
The Board has approved a fresh rights issue of up to Rs 50 crore for expansion requirements, and the issuance of overseas new securities of up to $30 million.
The company’s 250 KLPD plant at Goalpara, Assam, has received a production-linked incentive (PLI) of Rs 2 per litre of bio-ethanol for an initial period of three years from the Assam government. Additionally, the company is expected to receive an estimated benefit of Rs 50 crore for three years, which is over and above the incentives already being availed under the AEPPP Policy.
The Board has approved raising funds via the issuance of up to 1,385 non-convertible debentures (NCDs), having a face value of Rs 10 lakh each, amounting to Rs 138.5 crore in one or more tranches on a private placement basis.
The company's subsidiary, Rare Townships, has entered into a Development Management Agreement with Gopani Realty LLP for the development of Wing A-6 (India International Tower) of the 'Rising City' project at Ghatkopar, Mumbai.
The company has incorporated a wholly owned subsidiary, Sanghvi Movers Middle East, in the Kingdom of Saudi Arabia.
The Board has approved the raising of long-term bonds aggregating to Rs 10,000 crore in one or multiple tranches during FY25 for the financing of infrastructure and affordable housing.
Bulk Deals
Nippon India Mutual Fund has bought 13.68 lakh shares of the company at an average price of Rs 650 per share, valued at Rs 88.95 crore.
Mahindra Manulife Mutual Fund and HSBC Mutual Fund bought a 1.06% stake in Stylam for Rs 43.27 crore. However, Manav Gupta sold a 2.28% stake in the company at an average price of Rs 2,405 per share.
Nomura India Investment Fund Mother Fund bought 3 crore shares in the hypermarket chain at an average price of Rs 108.32 per share, amounting to Rs 324.96 crore.
Brenzett sold a 0.75% stake in the company at an average price of Rs 259 per share, valued at Rs 51.8 crore.
Block Deals
360 ONE Equity Opportunity Fund, Kotak Mahindra Mutual Fund, 360 ONE Prime, Tata Mutual Fund, Turnaround Opportunities Fund, 360 ONE Asset Management, and Morgan Stanley Asia Singapore Pte bought a 4% stake in Shoppers Stop at an average price of Rs 627.6 per share, valued at Rs 275.88 crore. However, Amazon.com NV Investment Holdings LLC exited the company by selling its entire 4% shareholding.
Mainboard Listing on December 19
Inventurus Knowledge Solutions
SME Listing on December 19
Yash Highvoltage
Stock Trades Ex-Dividend
Bambino Agro Industries
Stock Trades Ex-Date for Rights
Murae Organisor
Stock Trades Ex-Bonus
Rajeshwari Cans
Stock Trade Ex-Date for Resolution Plan-Suspension
Valecha Engineering
F&O Ban
NMDC, Bandhan Bank, Chambal Fertilisers and Chemicals, Granules India, Hindustan Copper, Manappuram Finance, National Aluminium Company, PVR INOX, RBL Bank, SAIL
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